The President of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, recently introduced an Executive Bill aimed at reforming Nigeria’s tax system.
The bill was subsequently presented to the National Assembly for strategic deliberations.
As part of efforts to deepen understanding and domesticate the proposed tax reforms, the Special Adviser to the President on Tax Policy, Mr. Taiwo Oyedele, convened a stakeholders’ town hall meeting at the Conference Hall of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Headquarters in Abuja.
Themed “Understanding the Tax Reform Bills: The Benefits and How to Maximize Opportunities in the New Tax System,” the forum brought together key stakeholders, including the National President of the Motor Mechanics and Technicians Association of Nigeria (MOMTAN), Alhaji Morufu Adebayo Arowolo.
In his remarks, Alhaji Arowolo reaffirmed MOMTAN’s support for the reform initiative, emphasizing its potential benefits for Micro, Small, and Medium Enterprises (MSMEs).
He expressed optimism that the tax reforms would ease the financial burden on citizens, promote equitable wealth distribution, enhance transparency, boost productivity, and ultimately contribute to infrastructural development across the country.
He also assured the conveners that MOMTAN members, as law-abiding citizens, would comply with the new tax policies as part of their civic responsibility.
The Director-General of SMEDAN, Mr. Charles Odii, also addressed the gathering, providing a comprehensive analysis of how MSMEs could benefit from the new tax regime.
The meeting was attended by representatives from various sectors, including market associations, the Manufacturers Association of Nigeria (MAN), the Nigeria Employers’ Consultative Association (NECA), the hospitality industry, artists, and entertainers.
